ePlus inc
ePlus Inc. is a U.S.-based IT solutions reseller and services company that combines third-party hardware and software with consulting, professional services, managed services, and lifecycle support. It helps enterprise and public-sector customers design, deploy, secure, and operate technology environments across cloud, networking, security, collaboration, and emerging technologies. The company also historically offered financing, though that business was sold in 2025, leaving ePlus more concentrated in technology solutions.
Fiscal year 2026 · change from previous year
Development 2021–2026
Business
Share of revenueResale of third-party hardware, software, maintenance, and software assurance.
Advisory, design, implementation, and staff augmentation services for IT projects.
Subscription-based monitoring and management of cloud, security, and collaboration environments.
Legacy financing, leasing, and asset management activities that were sold in 2025.
Products
Reported · share of revenue- Products81.0 %
- Services19.0 %
Source: 10-K FY2026, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
ePlus sells primarily to middle-market and large enterprises, plus state and local government and education customers. Its end markets are concentrated in telecom, media and entertainment, technology, healthcare, financial services, and SLED, with Verizon representing a major customer concentration. Customers buy ePlus because it can bundle products, engineering, and managed services into integrated solutions rather than standalone transactions.
Buy data center, cloud, security, networking, and collaboration solutions, often with managed services attached.
Buy IT products and services for public-sector modernization, deployment, and lifecycle support.
Buy infrastructure, collaboration, and managed services for large-scale network and workplace environments.
Buy secure, reliable IT infrastructure and managed services to support clinical and operational systems.
Buy security, cloud, and networking solutions with strong compliance and uptime requirements.
Strategy
ePlus is shifting further toward higher-value technology solutions by combining product resale with consulting, managed services, and lifecycle management. The sale of the financing business reduces diversification but should sharpen focus on core IT solutions and improve strategic clarity. Management is also emphasizing acquisitions, new facilities, and expanded capabilities in AI, cloud, security, and emerging technologies.
Recurring services improve revenue visibility and deepen customer relationships beyond product resale.
Bundling products, services, and lifecycle support increases wallet share and differentiates ePlus from pure resellers.
Acquisitions can add customer relationships, engineering talent, and geographic footprint.
AI and automation are becoming part of enterprise infrastructure buying decisions and can expand solution relevance.
Geography
2026The company generates most of its revenue in the United States, which is also where its configuration centers and warehouse/logistics footprint are concentrated. It also serves select international markets including the United Kingdom, the European Union, India, and Singapore, but these are smaller than the U.S. base. Geography matters because ePlus depends on domestic execution for the bulk of sales while still facing some cross-border sourcing and customer exposure.
Share of the revenue the company reports by geography.
Risks
ePlus faces customer concentration risk, especially from large accounts such as Verizon, and its contracts are generally non-exclusive and terminable on short notice. The business is also exposed to vendor supply-chain disruptions, pricing pressure, and competition from larger IT resellers and integrators. After the financing business sale, the company is more concentrated in technology solutions, which can increase volatility if product demand weakens or project timing shifts.
- Supply-chain disruptionImpact: HighLikelihood: High
The company depends on third-party vendors for hardware and software availability.
Exposure - Customer concentrationImpact: HighLikelihood: Medium
A few large customers can materially affect revenue and receivables if purchasing changes.
Exposure: Verizon represented 16% of net sales in fiscal 2025 and ~17% of A/R invoices due
- Competitive pressureImpact: MediumLikelihood: High
Large IT resellers and direct OEM channels can compress pricing and win rates.
Exposure: Especially relevant in product resale and enterprise solution bids
- Post-divestiture concentrationImpact: MediumLikelihood: Medium
Selling the financing business reduces diversification and increases reliance on core tech segments.
Exposure
Accounting
Judgemental itemsContracts often include products, software, maintenance, and services that must be separated and allocated.
Impact: Affects timing of revenue and gross margin by period
Lease residual values depend on equipment type, market conditions, and vendor pricing.
Impact: Can create impairment charges or change lease economics
Acquisitions created goodwill and intangibles that must be tested for impairment.
Impact: Could materially reduce earnings if business conditions weaken
Customer installation schedules and large orders can shift revenue between quarters.
Impact: Makes quarterly comparisons less linear and more volatile
Similar listed companies
Publicly listed companies with a comparable business focus.
Equifax, Inc
EFX · Services-Consumer Credit Reporting, Collection Agencies
Equifax is a data, analytics and technology company built around consumer and business information used for credit, identity, employment and fraud decisions.
Flex Ltd
FLEX · Printed Circuit Boards
Verizon Communications Inc
VZ · Telephone Communications (No Radiotelephone)
Momentus Inc.
MNTS · Guided Missiles & Space Vehicles & Parts
Ericsson
ERIC · Radio & Tv Broadcasting & Communications Equipment
LM Ericsson Telephone Company is a Sweden-based communications technology company that develops mobile network equipment, software, and services for telecom operators and enterprise customers.
EPAM Systems, Inc.
EPAM · Services-Computer Programming Services
EPAM Systems builds digital products and transformation programs for enterprises by combining software engineering, cloud, data, AI, and consulting.
Last updated: 24/09/2026